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Alnylam Pharmaceuticals logo

Alnylam Pharmaceuticals Business Segments

Business, geographic, and product segment breakdowns

Alnylam Pharmaceuticals generates $4.3B in annual revenue across 1 key segments: Research Services Obligation ($25.6M). The company-wide operating margin is 17.54%. Based on the Q1 2026 filing.

Research Services Obligation (TTM)$25.6M
Latest FilingQ1 2026
Report Date2026-04-30
Market Cap$38.6B
P/E Ratio76.91
ROE66.91%

Products & Services

Maximum funding

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
HELIOS-B Phase 3 Clinical Trial————$70M$70M
ALN-AGT Phase 2 Clinical Trial————$26M$26M
ALN-AGT Phase 3 Clinical Trial———$18M$6M$12M

Total revenues

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
AMVUTTRA$286.5M$310M$492M$685.3M$826.6M$889.9M
GIVLAARI$64.6M$67M$80.8M$73.9M$86.8M$74.4M
OXLUMO$43.6M$42.1M$46.9M$52.8M$49.6M$51.3M
ONPATTRO$56.1M$49.5M$52.5M$39.1M$31.7M$20.5M

Transaction price

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
License———$1.7B$1.7B$1.7B
Roche Development Services Obligation$937.5M$937.5M$1.1B—$1.1B$1.1B
Roche License Obligation$375M$375M$675M—$675M$675M
Research Services Obligation——$100.5M$100.5M$100.5M$100.5M
Roche Technology Transfer Obligation$2M$2M$2M—$2M$2M

Accounts Receivable

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Net product revenues$269.9M$311.9M$474.7M$572.8M$669.5M$727.2M

Deferred Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Research Services Obligation$41.2M$27.3M$15.1M$2.5M$4.8M$3.2M

Effective interest rate (as percent)

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Vutrisiran————46.0%49.0%
Zilebesrian————32.0%32.0%

Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Vutrisiran—$19.4M$19.4M$19.4M$19.4M$30.1M
Zilebesrian—$5.3M$5.3M$5.3M$5.3M$5.3M

Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Vutrisiran$190.1M———$194.2M$187.9M
Zilebesrian$25.3M———$17M$19.6M

Interest Expense

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Vutrisiran—$20.4M$20.4M$20.4M$20.4M$23.9M
Zilebesrian—$1.7M$1.7M$1.7M$1.7M$1.8M

Liabilities related to the sale of future royalties and development funding

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Vutrisiran————$94.5M$98.5M
Zilebesrian————$6.8M$7.5M

Liabilities related to the sale of future royalties and development funding, net of current portion

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Vutrisiran————$99.7M$89.4M
Zilebesrian————$10.3M$12.1M

Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Issuances

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Zilebesrian—$1.5M$1.5M$1.5M$1.5M$6M